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that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this problem after a while. do you think we're headed for a full stalemate? >> it's such a shame. i think david is right because we have low debt service right now. we're paying less interest on our debt than we had in the reagan and bush administrations before because interest rates are so low. >> but they're going to go up one day. >> but not for several years. i'll say it, we should be borrowing more at 30-year, 3% terms, so we can invest in the long-term growth of this economy. this is not the time for further austerity and cuts. if we were even to consider that right now, it would be
that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this...
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melissa: we're adding trillions every year to our deficit. what do you think, stephen, does that get us there? >> 1.2 trillion is this year's deficit. that doesn't solve the long-term problem. the thing we haven't had from this president in my view is serious proposal for structural entitlement reform on the order of something like the ryan budget that republicans offered. took a lot of grief for. something that would change the trajectory of our debt. things we've had from this president wouldn't do that. they might take a chunk here, take a chunk there but they don't change the overall debt picture and certainly don't change the trajectory. melissa: stephen, susan, stick around. we have a lot more on the other side of this break. like ben bernanke saying time to ditch the debt ceiling all together. is it as silly as he says it is? we'll debate that. more "money" ahead what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money
melissa: we're adding trillions every year to our deficit. what do you think, stephen, does that get us there? >> 1.2 trillion is this year's deficit. that doesn't solve the long-term problem. the thing we haven't had from this president in my view is serious proposal for structural entitlement reform on the order of something like the ryan budget that republicans offered. took a lot of grief for. something that would change the trajectory of our debt. things we've had from this president...
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Jan 18, 2013
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by creating jobs we reduce the deficit. >> jennifer: i'm take taking it as an encouraging sign that the tea party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've got to make it happen. again, it's got to be the voice of the american people that will make it happen. people don't realize that 60% of our discretionary money go to the defense. wewe need and want a strong defense, with you but quite frankly out dateed cold war-era weapons can be taken off the table. there are many, many ways we can save money with defense in our pentagon budget, and never even touch anything that would affect our troops and their benefits and their families or national defense. nothing is off of the table and we have to under that defense can't be off of the table. we have to keep defense on the table as
by creating jobs we reduce the deficit. >> jennifer: i'm take taking it as an encouraging sign that the tea party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've got...
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Jan 18, 2013
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but deficit hawks insist a big deal, a so-called grand bargain is critical for jumping starting u.s. economic growth. >> we've got to reform the tax code and probably raise more revenues than we have and importantly we have to focus on controlling spending and reforming our entitlements which are right now unsustainable. delaying all of this is irresponsible. >> reporter: hard choices ahead whether the congress and the president can come together remains to be seen. christine romans, cnn, new york. >>> and, remember, you can catch a special inauguration coverage right here on cnn live coverage begins on sunday. continuing into monday. our mornings begin at 9:00 a.m. eastern. don't miss it. when you have diabetes... your doctor will say get smart about your weight. i tried weight loss plans... but their shakes aren't always made for people with diabetes. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. and they have six grams of sugars. with fifteen grams of protein to help manage hunger... look
but deficit hawks insist a big deal, a so-called grand bargain is critical for jumping starting u.s. economic growth. >> we've got to reform the tax code and probably raise more revenues than we have and importantly we have to focus on controlling spending and reforming our entitlements which are right now unsustainable. delaying all of this is irresponsible. >> reporter: hard choices ahead whether the congress and the president can come together remains to be seen. christine...
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he doesn't care about deficits. he's not going to deal on this. >> you know, a couple of times during the news conference, i was interested in this. president obama said to congress, go ahead, give me the power and i'll issue more debt. that's really what he wants. he wants the power to issue unlimited debt so he can have unlimited spending and eventually he's going to get around to unlimited tax hikes. >> well, to be clear, as you know, when we talk about the debt, the president doesn't get to decide, you know, how much we're spending that's something that rests with congress. but in terms of what kate was saying with respect to, you know, him wanting to not really offer any cuts he's incurred the wrath of his party by offering chain cpi to social security. that's a reindexing of the cost of living index, revising down how much elderly people are getting. and he talk about potential fixes to medicare, potentially raising the age. it is not true that he's not willing to do that. i'll say there are a lot of people on
he doesn't care about deficits. he's not going to deal on this. >> you know, a couple of times during the news conference, i was interested in this. president obama said to congress, go ahead, give me the power and i'll issue more debt. that's really what he wants. he wants the power to issue unlimited debt so he can have unlimited spending and eventually he's going to get around to unlimited tax hikes. >> well, to be clear, as you know, when we talk about the debt, the president...
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Jan 18, 2013
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he has said, the president remains committed to further reducing the deficit in a balanced way. so that is the response from the white house after the gop at its retreat in virginia came out with the possibility that perhaps we could extend the debt limit for another three months but the senate has to pass a budget, so the republicans which it has not done in four years. so. tracy: no surprise from the white us house. ashley: says no. tracy: okay, then. how about this. hank paulson says he hates the debt limit. you remember the former treasury secretary, the guy who said i need $700 billion right now? no wonder he hates it. ashley: don't we all. tracy: he has given a rare interview. we have details on that next. ashley: first a look at today's winners and losers. the dow just above the water mark. take a look. we'll be right back. ♪ chances are you've become, a better driver over the years. and one company thinks your auto insurance rates should get better too. presenting the aarp auto insurance program from the hartford. i'm a good driver. have been for years. it just makes s
he has said, the president remains committed to further reducing the deficit in a balanced way. so that is the response from the white house after the gop at its retreat in virginia came out with the possibility that perhaps we could extend the debt limit for another three months but the senate has to pass a budget, so the republicans which it has not done in four years. so. tracy: no surprise from the white us house. ashley: says no. tracy: okay, then. how about this. hank paulson says he...
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Jan 19, 2013
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it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> and number of people have expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was when you raised that term initially? >> as i said, the fiscal kloof, if allowed -- the fiscal clef, if allowed to take place, would probably create a recession this year. a good part of that has been addressed. but nevertheless, we have a set of a r
it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its...
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Jan 19, 2013
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is reduce the federal deficit a worthy goal? this is interesting you may recall white house press secretary made news by stating that deficit reduction is, quote not a worthy goal onto itself. 77% of voters disagree with them and that includes large majorities of republicans, independents and democrats. what is your take on this? >> again i don't want to be a downer here, the question is what urgency to do they place on that. we had an election two months ago where there were two candidates, one was more focused on cutting the deficit and reducing our long term debt and one didn't think it was a big concern. the one who didn't think it was a big concern won the election. yes, voters seem to say that is an issue they agree with, but when it came to election day two months ago that certainly wasn't one of the top issues they voted on because they voted for the candidate who wasn't embody go it. >> heather: through his actions, as well. that leads to this, how f or if it should be raised? should the debt limit be raised again, 23%
is reduce the federal deficit a worthy goal? this is interesting you may recall white house press secretary made news by stating that deficit reduction is, quote not a worthy goal onto itself. 77% of voters disagree with them and that includes large majorities of republicans, independents and democrats. what is your take on this? >> again i don't want to be a downer here, the question is what urgency to do they place on that. we had an election two months ago where there were two...
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assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in the right way. >> dan gross, thanks for coming. >> thank you. >>> next, developing news this afternoon on the latest sandy aid bill before congress. a house vote is expected tonight but there's plenty of opposition and maybe for good reason. we're spinning as "the cycle" rolls on for tuesday, january 15th. hey sis, it's so great to see you. you, too! oh, cloudy glasses. you didn't have to come over! actually, honey, i think i did... oh? you did? whoa, ladies, easy. hi. cascade kitchen counselor. we can help avoid this with cascade complete pacs. see, over time, casc
assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in...
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that is if congress doesn't come up with what it calls a credible medium term deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current war of words between president obama and republicans in congress. what happens if we get downgraded? it happened before. remember 2011, when standard & poor's did it. that hit markets and the wider economy hard, but it didn't cause interest rates to increase. this time could be different, however, because the rest of the world is getting its act together. even successful businesses like ford are worried. here's what ceo alan mulally told me today. >> i think the most important thing to your point is that we come together around a solution that allows us to live within our means, to reduce our bu
that is if congress doesn't come up with what it calls a credible medium term deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current...
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Jan 14, 2013
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and japan famously has run deficits year after year. and it has a level of debt that is about twice what we've got as a share of gdp. and people have been predicting financial catastrophe for japan year after year for ten years or more. they've had downgrades. their debt was downgraded in 2002 by the major rating agencies. and everybody who believed those warnings and everybody -- has lost a lot of money. so it turns out that if you're an advanced country with its own currency and a reasonably stable government, you have a lot of running room on these things. so am i worried? yeah, i mean, i am worried about the u.s. fiscal situation 20 years from now. we do have a problem of health care costs and so on. but, you know, i'm worried about a lot of other things 20 years as well. i'm not sure that even if you take that long term perspective, that the budget should be at the top of your list of things to be afraid of. i'm a lot more afraid, actually, of the great -- the entire southwest of the united states turning into a dustbowl because of
and japan famously has run deficits year after year. and it has a level of debt that is about twice what we've got as a share of gdp. and people have been predicting financial catastrophe for japan year after year for ten years or more. they've had downgrades. their debt was downgraded in 2002 by the major rating agencies. and everybody who believed those warnings and everybody -- has lost a lot of money. so it turns out that if you're an advanced country with its own currency and a reasonably...
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default would increase borrowing costs and therefore add to future budget deficits. this letter from the treasury secretary intended to put more political and public pressure on congress to do something on the debt ceiling. so we're seeing the administration across the board acting in a very conservative way today. >> thank you very much. >>> up next, he spent millions of his own money warning about dangers of socialism. now the next crisis in washington. tom peterffy will join me next. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark
default would increase borrowing costs and therefore add to future budget deficits. this letter from the treasury secretary intended to put more political and public pressure on congress to do something on the debt ceiling. so we're seeing the administration across the board acting in a very conservative way today. >> thank you very much. >>> up next, he spent millions of his own money warning about dangers of socialism. now the next crisis in washington. tom peterffy will join...
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Jan 19, 2013
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which only will reyour trillion dollar deficit spending each year 5%, folks. so they gave them that. what does he come back with? we want more. i want more tax hikes which aren't going to do anything to calm the debt and the spending. he is not willing, and so i think back to what joe said. i think marco said this too. small business owners and large corporations can't trust the president. that's why they're sitting on top of all this cash and not hiring. that doesn't bode well. neil: marco, quickly you see nothing to dissuade you or some of your colleagues from getting off that? >> businesses are still growing, neil but they're not growing as much as they otherwise would. and that uncertainty has a very real trickle down effect. i'll use us as an example. we're building a new gio pronto restaurant right now. i would have loved to borrow the total investment from people like joe and gold coast banking. no way i'm going to do that based on uncertainty. i go borrow less than i would otherwise need. i do things like buy refurbished equipment than new. that doesn'
which only will reyour trillion dollar deficit spending each year 5%, folks. so they gave them that. what does he come back with? we want more. i want more tax hikes which aren't going to do anything to calm the debt and the spending. he is not willing, and so i think back to what joe said. i think marco said this too. small business owners and large corporations can't trust the president. that's why they're sitting on top of all this cash and not hiring. that doesn't bode well. neil: marco,...
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Jan 17, 2013
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we have an education deficit. we have skill development deficits closely related to education. we have an infrastructure development and repair deficit of e mori nows -- enormously important pace of proportions, and look at other countries from the recession and countries with very different political systems than ours to see the close relationship that infrastructure investment and development have on the likelihood and pace of recovery from a severe, global downturn. we also have, if not a deficit, an important urgent need to address the issue of energy and independence and opportunity that's sitting right in front of us ready to be advanced in the next year or two, but that requires leadership and initiative in washington and immigration reform, again, the subject that was discussed before. one more word, finally, about the process. for this, i go back to an earlier part of my life as a professor of law and one of the subjects i taught every year was negotiation. negotiation of a variety of contacts from international to commercial and transactional to labor management dispu
we have an education deficit. we have skill development deficits closely related to education. we have an infrastructure development and repair deficit of e mori nows -- enormously important pace of proportions, and look at other countries from the recession and countries with very different political systems than ours to see the close relationship that infrastructure investment and development have on the likelihood and pace of recovery from a severe, global downturn. we also have, if not a...
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most republicans have insisted that with the government facing another trillion dollar deficit this year, any increase in borrowing authority must be tied to cuts in spending. the president flatly disagreed. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> brown: the 2011 stand-off between the president and republicans over the debt ceiling led the nation to the bryning of national default. standard and poors even lowered its rating on u.s. government bonds. today, president obama said any repeat performance would be, quote, irresponsible. >> if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. >> brown: at the sa
most republicans have insisted that with the government facing another trillion dollar deficit this year, any increase in borrowing authority must be tied to cuts in spending. the president flatly disagreed. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay...
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. >> he called me and said mark, you know, you have to do this he said you were talking about deficit, government spending 1520 years ago when nobody was that much focused on it. they are now. here's a chance for you to take what you learned on the way up, what you learned on the way down, what you learned in congress before, what you learned in the governorship and apply it to what is really the debate of our time. >> you will remember his governorship, which was riddled with that story where he admitted an affair with a woman from argentina back in 2009. >>> look at this, unless you're a little claustrophobic. this oregon woman spent nearly four hours trapped in an eight-inch space between an apartment building and a 20-foot wall. this happened early wednesday morning in downtown portland. apparently she fell from a second floor smoking area and getting her out was not easy. firefighters had to cut through a section of wall and used air bags to widen the space. lieutenant rich chapman is the firefighter who pulled that woman out. >> we were assuring her we were doing everything to g
. >> he called me and said mark, you know, you have to do this he said you were talking about deficit, government spending 1520 years ago when nobody was that much focused on it. they are now. here's a chance for you to take what you learned on the way up, what you learned on the way down, what you learned in congress before, what you learned in the governorship and apply it to what is really the debate of our time. >> you will remember his governorship, which was riddled with that...
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Jan 15, 2013
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on the newshour tonight, we'll examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal charges for hacking and distributing online data he thought should be made public. >> brown: ray suarez updates the changes in cuba, where travel restrictions were eased today for citizens hoping to come and go. >> it is still one of the most repressive places in terms of its human rights record but we welcome any liberalization. we hope that will turn out to be one such. >> woodruff: and with rehearsals already under way for next week's inaugural ceremonies, we examine the new rules for raising money for the festivities. >> brown: that's all ahead on tonight's newshour. >> major funding for the pbs newshour h
on the newshour tonight, we'll examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal...
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i do know we can eliminate the deficit simply slowing down government growth. we don't need to cut government. we simply need to slow it down. if we do that we'll eliminate the annual deficit. >> you hear the argument that is like throwing granny off a cliff. >> i don't think it is. i disagree with it. neil: do you feel attempted to go into politics? >> no. if i ever do i hope somebody talks me out of it. neil: some of the best ideas i ever heard, john are from guys like you. the whole process soils you, oh, my god, i can't deal with it, it is so stupid? >> it is difficult because i found in my own experience when you're very authentic and tell the truth and honest often times get attacked. you get smeared, you, very difficult. takes a lot of courage, i think to go into the political realm these days. neil: will be interesting. put it that way. john mackey. whole foods market cofounder, co-ceo. conscience capitalism. read it. thought to paper and thought that sticks in your head. all right. inauguration on monday. we are there. i'm there all day. we'll get ther
i do know we can eliminate the deficit simply slowing down government growth. we don't need to cut government. we simply need to slow it down. if we do that we'll eliminate the annual deficit. >> you hear the argument that is like throwing granny off a cliff. >> i don't think it is. i disagree with it. neil: do you feel attempted to go into politics? >> no. if i ever do i hope somebody talks me out of it. neil: some of the best ideas i ever heard, john are from guys like you....
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Jan 15, 2013
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but in this time of trillion dollar budget deficits and bailouts and platinum coins, i think we've lost track of how much money this is. it comes to about $450 out of the budgets of an average household in this country. that's the tab for every household in america, $450. i do think they would begrudge a penny of that provided they were assured this was going for immediate emergency relief and recovery. but looking at the package, $50 billion worth, $16 billion is to quintuple the amount being spent for new development block grant, double that in the underlying rogers bill. we all know what that program is. it's question will projects, doggie day care centers in ohio and a day at the circus in new york. the only be has repeatedly urgently warned us that the program is in their word ineffective. that's the bureaucracies flout polite term for programs where they cannot trace the funding and cannot show any kind of effectiveness. the legal authorization for this program expired in 1994. this measure as i said when coupled the amount of things didn't. $2 billion is for road repairs anywhere
but in this time of trillion dollar budget deficits and bailouts and platinum coins, i think we've lost track of how much money this is. it comes to about $450 out of the budgets of an average household in this country. that's the tab for every household in america, $450. i do think they would begrudge a penny of that provided they were assured this was going for immediate emergency relief and recovery. but looking at the package, $50 billion worth, $16 billion is to quintuple the amount being...
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right now in front of congress and the country you have the need to reduce the deficit and continue to grow the economy, energy and climate change, immigration. gun safety. things are stacked up. and so i think that that is going to provide the sort of focus and energy you need and i think his intention is to run through the tape all the way through. >> gun safety has jumped to the top of the president's agenda since newtown and this week the president promised that the weight of his office behind these proposals but we're seeing a lot of resistance from democrats and want to show some of the reaction. senator max baucus "before passing new laws we need a thoughtful debate that respects responsible law abiding gun owners in montana instead of one side fits all directives from washington. senator tim johnson, "it makes common sense to not have one size fits all. senator mark begich "i feel like it's going to be hard for they of these pieces of legislation to pass." these are democrats. what is he going to bring to bear on that? >> it is a tough issue. i will say this, these are commonse
right now in front of congress and the country you have the need to reduce the deficit and continue to grow the economy, energy and climate change, immigration. gun safety. things are stacked up. and so i think that that is going to provide the sort of focus and energy you need and i think his intention is to run through the tape all the way through. >> gun safety has jumped to the top of the president's agenda since newtown and this week the president promised that the weight of his...
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talking about debt, deficit, government spending, 15, 20 years ago when no one was much focused on it here is a chance to take what you learned on the way up, what you learned on the way down. what you learned in congress before, the governorship and apply it to the debate of our time. >>> piers morgan will have an exclusive interview at 10:00 p.m. eastern on cnn. >>> quint se conrad bain, the d different strokes, has died. only one surviving member, willis. >> such a great show. you think of all of the drama cast members had over the years. >> i don't remember. i don't think i was born then. >> that show was a long time ago. >> amazing. >>> still ahead this morning on "starting point," hottest pregnant sri lankan, hottest indian chick. just a document categories in the "qq" hottest women of the millennium issue. we'll talk about that straight ahead. >>> and the girlfriend of notre dame's linebacker manti te'o died, millions came to his side. it was all a hoax. it wasn't caught and why not? mark greenberg and mark schlerath will join me to talk about that, straight ahead. officeyour b
talking about debt, deficit, government spending, 15, 20 years ago when no one was much focused on it here is a chance to take what you learned on the way up, what you learned on the way down. what you learned in congress before, the governorship and apply it to the debate of our time. >>> piers morgan will have an exclusive interview at 10:00 p.m. eastern on cnn. >>> quint se conrad bain, the d different strokes, has died. only one surviving member, willis. >> such a...
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that's $1.3 trillion deficit. you know, if the republicans want to save their house majority, they'd better cut spending like there's no tomorrow. we'll have a little debate on our budget priorities next up. almost tastes like one of jack's cereals. fiber one. uh, forgot jack's cereal. [ jack ] what's for breakfast? um... try the number one! yeah, this is pretty good. [ male announcer ] over a third of aer. fiber one. >>> welcome back. >>> welcome back. house budget committee chairman paul ryan announced today that republicans are putting a short-term debt ceiling hike on the table. short-term debt ceiling hike. but here's what i'm not hearing and what we should be hearing is an unambiguous plan to splash spending now. republicans need an absolute rock solid plan to implement the sequester which is $1.2 trillion over the next ten years. this is essential. not just to unite the republican conference. but more importantly, it's essential to helping the economy grow more rapidly. and if the republicans don't get it d
that's $1.3 trillion deficit. you know, if the republicans want to save their house majority, they'd better cut spending like there's no tomorrow. we'll have a little debate on our budget priorities next up. almost tastes like one of jack's cereals. fiber one. uh, forgot jack's cereal. [ jack ] what's for breakfast? um... try the number one! yeah, this is pretty good. [ male announcer ] over a third of aer. fiber one. >>> welcome back. >>> welcome back. house budget committee...
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Jan 15, 2013
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would surplus at sometimes but ordinarily deficits were small and manageable. what's different today we're not necessarily talking about funding or not borrowing for disaster, we're borrowing for everything else and that puts us in this new and frankly uncomfortable position. if we had taken care of our underlying financial and fiscal needs and paid for the operation of this government without borrowing huge sums of money we wouldn't have to have this conversation. we've undermined our own ability for our own people. imagine the united states of america being in the circumstance it is today we have to ask other countries to lend us money so we can take care of our own. that's an embarrassment to me. i'm not happy to be in this position. it's not because of what happened in sandy, it's because of what happened before we got to sandy. >> congressman mick mulvaney nice to talk to you. makes an excellent point at the same time. if you are a person affected by sandy many folks in our state of new jersey you hear that, this is closing the barn door after the horse ha
would surplus at sometimes but ordinarily deficits were small and manageable. what's different today we're not necessarily talking about funding or not borrowing for disaster, we're borrowing for everything else and that puts us in this new and frankly uncomfortable position. if we had taken care of our underlying financial and fiscal needs and paid for the operation of this government without borrowing huge sums of money we wouldn't have to have this conversation. we've undermined our own...
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Jan 15, 2013
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the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest part of the budget and the fastest growing part of the budget. it also, the $1.2 trillion is in the bank because of the discussions we had two years ago. >> you think the democrats would not see that as a credible threat? they would say go ahead, let the sequestration kick in? >> well, i think democrats and republicans alike would like to alter the way the sequestration works. but i hope that nobody's talking about not making good on our commitment to reach the $1.2 trillion. i'm certainly not. and those of us who are concerned on the across-th
the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest...
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Jan 18, 2013
01/13
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extension in order to have time to come up with a grander deal to deal with the long-term debt and deficit. jon: argument goes on. carl cameron in washington thanks. jenna: a femme-fatale or a woman of fate? a major development in the case of a woman on trial for the murder of her boyfriend. also some new details emerging in the story of manti te'o and his nonexistent girlfriend. when did the football star find out about the hoax and why did he keep the story going? questions we're looking for answers today on "happening now." ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. jon: right now some crime stories we're keeping an eye on. arizona, the state is resting its case in the high-profile trial of a woman accused of killing her former boyfriend in a jealous rage. prosecutors claimed jody aras stabbed slashed and shot travis alexander or i should say stabbed and slashed him 30 times before slitting hi
extension in order to have time to come up with a grander deal to deal with the long-term debt and deficit. jon: argument goes on. carl cameron in washington thanks. jenna: a femme-fatale or a woman of fate? a major development in the case of a woman on trial for the murder of her boyfriend. also some new details emerging in the story of manti te'o and his nonexistent girlfriend. when did the football star find out about the hoax and why did he keep the story going? questions we're looking for...
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Jan 15, 2013
01/13
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we don't have that kind of capability in the federal government to add the deficit. so you have to open the door to private investment to do this job of rebuilding the power platform in the united states. >> host: and the technology aspect of that is? >> guest: technology aspect is manifold. and price performance improves every 18-24 mocks. in the last year we have gotten into the innovation cycle in batteries so by the end of 2020 electric vehicles will actually be price competitive with grass-driven cars. the problem with these things is that we can't wait. we can't wait because of the environmental effects and we can't wait because we need the economy to grow quickly right now. so the book lays out a whole bunch of different ideas for bringing private investment much more quickly into the job of rebuilding the power grid. >> host: on this show, a series on the international power plant, and he doesn't necessarily agree that the internet is completely green or is terribly green. what is your thought? >> guest: he is right about that. people say that data centers in
we don't have that kind of capability in the federal government to add the deficit. so you have to open the door to private investment to do this job of rebuilding the power platform in the united states. >> host: and the technology aspect of that is? >> guest: technology aspect is manifold. and price performance improves every 18-24 mocks. in the last year we have gotten into the innovation cycle in batteries so by the end of 2020 electric vehicles will actually be price...
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Jan 18, 2013
01/13
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you were talking about debt and deficit and government spending 15, 20 years ago when nobody was that much focused on it in washington, but now they really are. here is a chance for you to take all you learned, what you learned on the way up, on the way down, in congress, in the governorship, and apply it to what is really the debate of our times. if you look, we're having a new fiscal crisis it seems every couple months. we had the debt ceiling, the fiscal crisis, and that's really the tip of the iceberg that is coming our way based on unbelievable demographics and unbelievably unsustainable government spending. what i want to do is take what i learned and hopefully apply it to again a great conundrum that now exists in washington, which is how do we get our financial house in order? >> i wish you all the very best. thank you for joining me again tonight. it's a pleasure to talk to you as it was last time. i genuinely wish you well. i'm glad you're making another go at this. good luck with it. >> i appreciate it, thanks. >> newtown changed everything, but the nra doesn't get it, and
you were talking about debt and deficit and government spending 15, 20 years ago when nobody was that much focused on it in washington, but now they really are. here is a chance for you to take all you learned, what you learned on the way up, on the way down, in congress, in the governorship, and apply it to what is really the debate of our times. if you look, we're having a new fiscal crisis it seems every couple months. we had the debt ceiling, the fiscal crisis, and that's really the tip of...
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Jan 15, 2013
01/13
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consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the treasury to prioritize spending in deciding what bills to pay. the treasury is getting money in every single day. tax dollars don't just come in on april 15th. they come in all the time. >> and the president will be forced to do what you and i and every other american have to do and that is prioritize expenses. if we would not default, prioritize that which must be paid first and then make tough choices as to what is necessary and proper for our government to be spending. that is what we should be doing every day and is, quite frankly, why this president has failed to lead because he just does not believe it. he believes there is no end, and at the end of his term will be somebody else's
consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the treasury to prioritize spending in deciding what bills to pay. the treasury is getting money in every single day. tax dollars don't just come...
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Jan 15, 2013
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the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay our bills. we handle our business. and then we can move on -- because america has a lot to do. we've got to create more jobs. ofve got to boost the wages those who have work. we've got to reach for energy independence. we've got to reform our immigration system. we've got to give our children the best education possible, and we've got to do everything we can to protect them from the horrors of gun violence. and let me say i'm grateful to vice president biden for his work on this issue of gun violence and fo
the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay...
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Jan 16, 2013
01/13
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consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the treasury to prioritize spending in deciding what bills to pay. the treasury is getting money in every single day. tax dollars don't just come in on april 15th. they come in all the time. >> and the president will be forced to do what you and i and every other american have to do and that is prioritize expenses. if we would not default, prioritize that which must be paid first and then make tough oices as to what is necessary and proper for our government to be spending. that is what we should be doing every day and is, quite frankly, why this president has failed to lead because he just does not believe it. he believes there is no end, and at the end of his term will be somebody else's p
consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the treasury to prioritize spending in deciding what bills to pay. the treasury is getting money in every single day. tax dollars don't just come...
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Jan 18, 2013
01/13
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it will be over debt, deficit, gun control immigration reform leading the organization will be jim macina who will take over the cash of 5.3 million and use it for discreet coalition of the policy battles. it is the most sophisticated in modern times in the use of multi targeting data. vice president giend who hazel lewded to a presidential run of his own spoke about a grass-roots approach in his announcement yesterday as conference as mayor. >> we are going to take this fight to the halls of congress. we are going to take it beyond that. we are going to go to the country making our case and let the voices, the voice of american people to be heard. >> it will be separate from the democratic national committee. the white house dmc chair debbie watson schultz. describes her as an obama outsider who never enjoyed a close relationship with the president. >> isn't that the question you would love to be asked what are you going to do with the leftover 5.3 million? >> i don't anticipate that in my life. >> a too bad hopefully you share the wealth. >> dumped several inches of snow but it claimed
it will be over debt, deficit, gun control immigration reform leading the organization will be jim macina who will take over the cash of 5.3 million and use it for discreet coalition of the policy battles. it is the most sophisticated in modern times in the use of multi targeting data. vice president giend who hazel lewded to a presidential run of his own spoke about a grass-roots approach in his announcement yesterday as conference as mayor. >> we are going to take this fight to the...